Private Limited Company

Private Limited Company

    About Service
A private limited company is the most popular form of starting business as there is benefit of ability to raise capital by issuance of shares associated with it. But there are various compliances required to be followed once a company is incorporated. Managing the day to day operations of your business along with complying the corporate laws is very important because failure to do so will result in payment of heavy penalties up to worth Rs. 1 lakh a year or might even lead to the directors being blacklisted. A Pvt. Ltd. Co. is required to get their books of accounts audited and file the Income Tax Returns and Registrar of Companies (ROC) Compliances every financial year irrespective of the size and nature of the company. There are penal provisions if such compliances are not made.
 Timeline: 10-15 Working days
 Package Inclusions
  • Monthly book keeping(accounts)
  • Income Tax Returns filing(ITR)
  • ROC Filings
  • TDS calculations
  • Employee payrolls
  • Auditing compliances
  • Minutes of meetings
  • AGM & Annual returns
 Documents Required
  • MoA,AoA,COI of company
  • Company bank account statements
  • Promoter DSCs
  • Promoter KYC
  • Memos of expenses, purchase etc
  • Payroll information
  • Balance Sheet/PL Statement
  • Other relevant information(if required)
 Process Details
  • Maintainence of monthly accounts
  • Annual Audit compliances
  • ITR return
  • Filings for compliances
  • Minutes of meetings
 Key Advantages
  • Avoid Criminal Charges- promoters of a company should keep all the compliances in check to avoid likely criminal charges for its negligence
  • No Penalty- Remove chances of heavy penalty for non compliance
  • Positive Reputation- Maintain a highly reputed name for your organisation by avoiding getting into any sort of legal troubles and cases
  • Higher Productivity- Compliances like employee benefits helps in maintaining loyalty and promote a good working environment in the organisation
  1. What is the meaning of compliances?
    Compliance is referred to complying to all the laws, rules and regulations laid out by the government in running an organisation.
  2. What are some major compliances to be followed?
    Annual Filing, Annual returns, Minutes, notices, updating the Statutory Register are some of the major compliances to be followed.
  3. Which act governs these compliances?
    The Companies Act 2013 governs all the compliances to be done by an organisation and its promoters.
  4. Is there any specific compliance on part of the directors?
    Yes, the directors have to inform the company about their directorship in other companies every year.
  5. What are event based compliances?
    Event based compliances are triggered based on happenings of certain events, such as allotment of shares, transfer of shares, appointment or resignation of directors, change in bank signatories, change in statutory auditors etc.

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